Venture Completes Acquisition of Wham Energy

Venture says that following the delivery of all relevant documentation to the Registrar of Companies in England and Wales, the Scheme of Arrangement required to effect the acquisition of WHAM by Venture became effective November 11, 2007. All of the Conditions have either been satisfied or waived and the acquisition of WHAM by Venture has now completed.

Commenting on the transaction, Mike Wagstaff, Chief Executive of Venture, said:

'We are delighted that this transaction has completed successfully. Natural gas production in the southern North Sea is an important part of Venture's business and we believe that combining WHAM's portfolio of exploration assets with Venture's capital and drilling capability will ensure that these gas prospects are tested in a shorter timeframe. In addition, Venture's development expertise means there will be greater certainty that any exploration success will be quickly converted into incremental gas production.'